Wells Fargo & Company Issues Positive Forecast for Bausch + Lomb (NYSE:BLCO) Stock Price

Bausch + Lomb (NYSE:BLCO) had its price target hoisted by Wells Fargo & Company from $16.00 to $17.00 in a report issued on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

BLCO has been the subject of a number of other reports. Evercore ISI lifted their price target on shares of Bausch + Lomb from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. raised their target price on Bausch + Lomb from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. The Goldman Sachs Group initiated coverage on shares of Bausch + Lomb in a research report on Wednesday, October 1st. They set a “neutral” rating and a $16.00 price target for the company. Citigroup restated a “neutral” rating on shares of Bausch + Lomb in a research report on Tuesday, October 7th. Finally, Morgan Stanley increased their price target on shares of Bausch + Lomb from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Friday, August 1st. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.58.

Bausch + Lomb Price Performance

BLCO traded down $0.12 during trading on Friday, reaching $15.57. 434,810 shares of the company were exchanged, compared to its average volume of 526,530. The company’s 50-day moving average is $15.22 and its two-hundred day moving average is $13.79. Bausch + Lomb has a 12-month low of $10.45 and a 12-month high of $20.71. The company has a market cap of $5.52 billion, a price-to-earnings ratio of -17.90, a P/E/G ratio of 1.53 and a beta of 0.63. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.76.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Bausch + Lomb had a positive return on equity of 2.42% and a negative net margin of 6.13%.The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year. Bausch + Lomb has set its FY 2025 guidance at EPS. Research analysts forecast that Bausch + Lomb will post 0.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bausch + Lomb

Large investors have recently modified their holdings of the business. Ridgewood Investments LLC acquired a new stake in Bausch + Lomb in the 2nd quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Bausch + Lomb by 729.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company’s stock valued at $30,000 after acquiring an additional 2,042 shares during the period. Blue Trust Inc. increased its position in shares of Bausch + Lomb by 58.5% in the 2nd quarter. Blue Trust Inc. now owns 4,502 shares of the company’s stock valued at $59,000 after acquiring an additional 1,662 shares during the period. FNY Investment Advisers LLC raised its stake in Bausch + Lomb by 93.8% in the 2nd quarter. FNY Investment Advisers LLC now owns 6,200 shares of the company’s stock worth $80,000 after acquiring an additional 3,000 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in Bausch + Lomb by 101.7% during the 1st quarter. National Bank of Canada FI now owns 6,719 shares of the company’s stock worth $97,000 after acquiring an additional 3,387 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Bausch + Lomb Company Profile

Bausch + Lomb Corporation operates as an eye health company in the United States, Puerto Rico, China, France, Japan, Germany, the United Kingdom, Canada, Russia, Spain, Italy, Mexico, Poland, South Korea, and internationally. It operates in three segments: Vision Care, Pharmaceuticals, and Surgical. The Vision Care segment provides contact lens that covers the spectrum of wearing modalities, including daily disposable and frequently replaced contact lenses; and contact lens care products comprising over-the-counter eye drops, eye vitamins, and mineral supplements that address various conditions, such as eye allergies, conjunctivitis, dry eye, and redness relief.